The practice of people acting in their own self- interest is referred to as:

Question

Quizplus · Accepted Answer

Economic rationality describes the behavior of individuals who act in a way that they perceive to be in their own self-interest, based on their own preferences and constraints. This behavior is guided by the idea that people are rational and make decisions based on the costs and benefits associated with their actions. Therefore, A) economic rationality is the best choice as it accurately describes this concept. Choice B) ethical rationality is not a commonly used term and is not applicable in this context. Choice C) economic interest is not a term that accurately describes the behavior being discussed. Choice D) is not a valid option as one of the given choices must be the correct answer.

The Practice of People Acting in Their Own Self- Interest